Atika Capital Management LLC Invests $7.25 Million in Karman Holdings Inc. $KRMN

Key Points

• Atika Capital Management opened a new position in Karman Holdings, buying 90,500 shares worth about $7.25 million. The stake represents roughly 0.9% of Atika’s portfolio and 0.07% of Karman.
• Karman stock rose 4.1% to $49.55, giving the company a market value of about $6.57 billion. The shares still trade well below the 52-week high of $118.38.
• The company recently beat quarterly expectations, posting $0.11 EPS on $151.21 million in revenue, with sales up 51% year over year. Analysts currently view the stock as a Moderate Buy with an average target price of $103.50.

Atika Capital Management LLC acquired a new stake in shares of Karman Holdings Inc. (NYSE:KRMN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 90,500 shares of the company's stock, valued at approximately $7,245,000. Karman comprises about 0.9% of Atika Capital Management LLC's portfolio, making the stock its 28th largest position. Atika Capital Management LLC owned 0.07% of Karman as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in Karman by 83.7% during the 4th quarter. GAMMA Investing LLC now owns 373 shares of the company's stock worth $27,000 after acquiring an additional 170 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Karman by 889.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 386 shares of the company's stock valued at $28,000 after purchasing an additional 347 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Karman in the third quarter valued at about $29,000. Huntington National Bank bought a new position in shares of Karman in the fourth quarter worth about $32,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Karman during the 4th quarter worth about $32,000.

Karman Stock Up 4.1%

Shares of KRMN opened at $49.55 on Friday. The company has a market capitalization of $6.57 billion, a P/E ratio of 215.44 and a beta of 0.51. Karman Holdings Inc. has a one year low of $43.68 and a one year high of $118.38. The business's 50 day simple moving average is $52.60 and its 200-day simple moving average is $76.84. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.53 and a quick ratio of 3.38.

Karman (NYSE:KRMN - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. The firm had revenue of $151.21 million during the quarter, compared to analysts' expectations of $150.19 million. Karman had a return on equity of 14.94% and a net margin of 5.73%.The business's revenue was up 51.0% on a year-over-year basis. During the same period last year, the firm posted $0.05 EPS. As a group, sell-side analysts predict that Karman Holdings Inc. will post 0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on KRMN shares. KeyCorp cut their price target on Karman from $122.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, May 20th. Royal Bank Of Canada restated an "outperform" rating and issued a $100.00 price objective on shares of Karman in a research note on Tuesday, June 2nd. Evercore set a $100.00 price objective on shares of Karman in a research report on Wednesday, May 13th. BWS Financial reiterated a "sell" rating and issued a $37.00 target price on shares of Karman in a research note on Monday, May 18th. Finally, Truist Financial raised Karman to a "strong-buy" rating in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Karman currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.50.

Karman Company Profile

We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.

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